Two Jobs One Tax Year — Form 122 Is What Your Employer Needs

You changed jobs in July. Your new employer has no idea what your previous company paid you or how much TDS was already deducted. Without Form 122, they will calculate your tax as if you earned nothing before joining them — and deduct excess TDS every month. Download Form 122 PDF before you start and follow this guide to fill it correctly before your next payroll cycle closes.

Form 122 replaces the earlier Forms 12B and 12BAA under the Income Tax Act, 2025. It is your formal way to tell your current employer about your previous salary, house property loss, and any TDS or TCS deducted on your other income during the same tax year.

Note: Form 122 is submitted offline to your employer or through your company’s HR or payroll system. It is not uploaded to the Income Tax e-filing portal and is not attached with your ITR.

How to Fill Form 122 for Salary and TDS Declaration

WHEN TO USE FORM 122

Arjun joined a new company in August 2026 after working at his previous employer from April to July 2026. His previous employer paid him Rs 4.2 lakh as salary and deducted Rs 18,000 as TDS before he left. His new employer starts calculating TDS from scratch — treating his annual income as only the salary they are paying, with no TDS credit. By October, Arjun notices excess TDS being cut every month. He submits Form 122 to his new employer’s HR team with his previous salary details and TDS amount. His employer recalculates and adjusts from the next payroll. Arjun avoids a large refund claim at ITR time.

Document Needed

• Name and TAN of your previous employer
• Salary breakup from previous employer -basic salary, taxable allowances, perquisites, and EPF accretion during the tax year (take this from your Form 130 or final payslip)
• TDS deducted by the previous employer – exact amount, available in Form 130
• Home loan interest certificate from your bank – only if you are claiming house property loss in Part C(1)
• TDS certificates for non-salary income – only if you have FD interest, rental income, or any other income on which TDS was deducted and you want your employer to account for it

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Step by step – filling form 122

Form 122 is submitted offline to your employer. It is not filed on incometax.gov.in. There is no online portal process for this form.

PART A — EMPLOYEE DETAILS

Field: Name of Employee Enter your full name exactly as it appears in your current employer’s records and your PAN card.

Field: Permanent Account Number (PAN) Enter your 10-character PAN. This is mandatory. Without PAN, the declaration is invalid and your employer cannot process TDS credits.

Field: Tax Year Enter the Tax Year for which this declaration is being made — for example, 2026-27.

Field: Name and TAN of current employer Your current employer fills this, but verify it is correct. TAN is mandatory for TDS matching.

PART B — SALARY FROM PREVIOUS EMPLOYER

Field: Name and TAN of the other employer Enter the name and Tax Deduction Account Number of your previous employer. TAN is on your Form 130 from that employer.

Field: Period of employment with the other employer Enter the start and end date — for example, 01-04-2026 to 31-07-2026.

Field: Gross salary paid or payable Enter the total taxable salary paid by the previous employer including basic salary, all taxable allowances, perquisites, and taxable EPF accretion. Do not include exempt components. Use your Form 130 or final salary statement.

Field: TDS deducted by the previous employer Enter the exact TDS amount deducted. This figure is on your Form 130.

PART C — OTHER INCOME AND TAX CREDITS

Part C(1): Loss from House Property Fill if you have a home loan and interest paid exceeds rental income. Enter annual interest from your bank’s certificate. Loss up to Rs 2 lakh per year is set off against salary income.

Part C(2): Other Income Enter non-salary income on which TDS or TCS was deducted – such as rental income or FD interest. Losses from other income heads cannot be declared here.

Part C(3): TDS on Non-Salary Income Enter TDS deducted on income declared in Part C(2). Your employer credits this against your salary TDS.

Part C(4): TCS Credits Enter any Tax Collected at Source during the tax year – for example TCS on a car purchase or foreign remittance.

SIGNATURE AND DECLARATION
Sign and confirm all details are correct. A wrong TDS figure here will create a mismatch in your Form 168 when you file your ITR.

Common Mistakes to Avoid While Filling Form 122

• Entering gross salary instead of taxable salary in Part B -exempt components like HRA within limits must be excluded
• Skipping perquisites and EPF accretion from previous employer’s salary figure – understating income causes ITR mismatch
• Not submitting the home loan interest certificate along with Form 122 – employer cannot apply set-off without the supporting document
• Submitting after that month’s payroll is processed – adjustments apply only from the next payroll cycle
• Assuming the ITR refund route is easier – it is not; excess TDS locks your money for months

After submission

Your employer adjusts TDS for remaining months of the tax year. Previous employer TDS, house property loss, and TCS credits are all factored in. At year end your employer issues Form 130 reflecting the full adjusted income and TDS. You use this to file your ITR. Form 122 is not uploaded to the portal and not attached with the return. Keep your copy for records.

Downloads and Related links

Download Form 122 PDF from the official download page before filling.

Form 130 from your previous employer — Get salary and TDS figures from here before filling Part B.

Form 124 for investment and HRA declarations — Submit alongside Form 122 to the same employer if declaring rent, home loan, or LTC.

Download Form 121 to stop TDS on FD interest — Submit to your bank. TDS already deducted on FD interest can be credited in Part C(3) of Form 122.

Frequently Asked Questions by User (FAQ)